In Depth

Short term prospects show costs rising

The cost of finance, competitive pressures and crew costs are all likely to rise during the next two years, a survey of vessel operating costs by shipping consultant Moore Stephens has estimated. Ship operating costs in general are likely to rise by nearly 3%, both this year and next, with wages and repair costs likely to increase the most, says the report, which has been compiled following a survey from industry “key players”.

Star Bulk announced that it has priced its public offering of senior unsecured notes due 2019. The Notes will bear interest at a rate of 8.00 % per year, payable quarterly in arrears on each February 15, May 15, August 15 and November 15, commencing on February 15, 2015.

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Precious Shipping Ltd has posted a 3Q14 loss as it continues to face challenges into next year, a CIMB Securities analyst has predicted. Precious delivered a net loss of THB186.9M ($6.03M) in 3Q14, compared with 1H14 profits of THB136M.
Carnival Cruise Lines’ president and CEO Gerry Cahill announced Thursday that he will be retiring effective November 30 after 20 years with the company.
The CMA CGM Group is pleased to announce 10 of its vessels’ bulbous bows are to be retrofitted in order to continue improving its fleet’s energy efficiency and reducing its environmental footprint.
Rates for capesize bulk carriers on key Asian routes could hold steady or climb higher next week after surging to their highest level in more than six months on strong chartering activity from iron ore miners, including Vale and Rio Tinto, brokers said.
Vale posted a surprise $1.44 billion loss, and its shares tumbled to a 5-1/2-year low as investors worried about the cost of the Brazilian miner's expansion plans and a possible cut to its dividend in a new era of lower iron ore prices.
The Executive Committee of EXMAR NV has reviewed the results for the third quarter of 2014. Both Very Large Gas Carriers (“VLGC”) and Midsize Gas Carriers (“MGC”) markets continue to perform above historical average prices, the company said...
Global Ship Lease announced its unaudited results for the three months and nine months ended September 30, 2014. Ian Webber, Chief Executive Officer of Global Ship Lease, stated, “In the third quarter of 2014, we generated adjusted EBITDA of $20.1 million while achieving a number of strategic objectives..."

GasLog Partners reported its financial results for the three month period ended September 30, 2014. Mr. Andrew Orekar, Chief Executive Officer, stated: “I am delighted with what GasLog Partners has achieved during its first full quarter as a listed partnership..."










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